Dr. Frank Stieler to resign as CEO of KraussMaffei

KraussMaffei has announced that Dr. Frank Stieler will resign from his office as CEO of KraussMaffei Group GmbH on March 31, 2020.

Dr. Michael Ruf, present COO of the company, will take over the position from April 1, 2020. The COO position will not be taken again.

Dr. Frank Stieler will resign as CEO of KraussMaffei.

The German-based plastics processing machine manufacturer said in the news release: “Under the leadership of Dr. Ruf, the company will streamline its organization. This allows further rationalization to deal with the challenges from the current complicated and volatile economic situation and the impact from the [coronavirus] crisis.”

Dr. Ruf said: “We are ready to face such challenges. I enjoyed working with Dr. Frank Stieler thereby creating the concepts for the changes together. I am grateful that he developed the company to this level.”

Dr. Michael Ruf will take over the CEO position from April 1, 2020.

Since 2018 KraussMaffei Group GmbH is part of KraussMaffei Company Limited, a public company listed on the Shanghai Stock Exchange. Dr. Stieler has been CEO of KraussMaffei Group GmbH since July 2015 and of KraussMaffei Company Limited since May 2019.